Benefit of Gazette & local paper notice

JARING

With a simple estate what’s the benefit for joint executors, who are the two children of the deceased and also the sole beneficiaries, in placing a notice in The Gazette and the local newspaper?

A notice might reduce their "executor" risk but given they are also the beneficiaries the risk remains with them anyway.

I can see the logic if the executor is different from the beneficiaries but in this case the two executors are the two beneficiaries.

Flugelhorn

that is right - I understand that all the notice does is protect the executor. If you are also the beneficiary and have good insight as to the deceased financial affairs then it isn't really needed

I was sole exec and beneficiary and didn't put any gazette notices

Keep_pedalling

I agree in the circumstances it is a pointless exercise.

JARING

Isn't the risk if some third party pops up claiming they are owed money by the deceased or such like?

Indeed I wondered if scammers watch for these notices and jump in with spurious claims. Even if they are unable to provide written evidence it's an unwanted admin burden.

In this case we're confident there are no outstanding claims as the children (now executors) were providing financial admin support (with LPA in place) for many years as the capability of the deceased declined.

user1977

Isn't the point to allow creditors to have visibility of the death and a chance to claim?

In theory yes, but if somebody owed you money would you be waiting until you read about their death in the small ads before claiming? The vast majority of estates have the usual sort of debts (if any), I very much doubt this sort of enquiry is ever useful in practice, it only serves as a purely notional "publicity" of the death.

TonyMMM

I've been executor for two estates and didn't bother with notices for either .... depends really on how well you knew the deceased and their finances and the level of risk you are comfortable with.

JARING

https://forums.moneysavingexpert.com/discussion/comment/81934268#Comment_81934268

We were on top of the finances as an increasing amount of support was required thanks to old age and we'd had to assess the finances recently to understand funding options for long-term care which was on the cards.

On reflection I don't think the two executors, who are also the two beneficiaries, are reducing or increasing their risk given the buck stops with the beneficiaries anyway.

However, if acting as an executor for an estate where you were not a major beneficiary, I can certainly see the benefit of a Section 27 notice to eliminate executor risk.